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Is it time for a jobs bailout?
Is it time for a jobs bailout?
Last Modified: 15 Oct 2008
By:
Faisal Islam
The chaos in the financial markets is being mirrored by painful disruption to people's lives in the real economy.
The downturn has led to the biggest quarterly rise in unemployment since the last recession in 1991, with the jobless total increasing by 164,000 between June and August.
There are now 1.79 million people out of work - and some economists are warning that this will rise to two million by Christmas.
The government has made billions of pounds available to bail out the banks, but the unemployed will have to make do with a hundred million for retraining.
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After the collapse of the US sub-prime mortgage market, the global economy is in the throes of a credit crunch.
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